I am curious as to how most of these new homes are being bought as most I have seen are about half a million dollars on average. I mean, even a 3 bed home runs between 360,000 to 450,000 now a days. My family's situation may not be unique but it is a problem where we are a family of 4, wanting to have another kid at some point and I work from home a lot so having some space is necessary for us. A 2 bed home for us would be way to small. Our only thought would be to buy a home that is between 2-3 beds with an unfinished basement so we can grow into the home on our terms but still be in a home. Other problem is our income will only allow us to have a mortgage that is no more than $2,300-2,500 a month which limits the home price to no more the $350,000 with a 3.5% down at the current rates (About 6.8% last I checked for an FHA loan). Quick check on Zillow which I know is not always the most accurate or reliable, there is one townhouse and the rest or new build homes that do not have the correct prices showing between Zillow the the builders website.
For those who have bought homes, did you end up house poor? Every time we get a raise the price of everything goes up even more. When we last looked at homes a year or more ago, we could find some homes around $300,000 even if they were fix-er-uppers but now that price seems to be non existent. Maybe more of a rant but also looking for other people's insight on the current situation in the valley. We just feel so stuck right now